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Cost Estimate of San Diego Downtown Library Project Jumps 24%In another blow to San Diego’s plans to build a nine-story downtown library, a new cost estimate released November 30 raises the price tag for the project by 24%—from $150 million to $185 million—due to rising costs of steel, concrete, oil, and other materials.Although the majority of the project’s costs are to come from public financing— $80 million in city redevelopment taxes and a $20-million state library grant—the San Diego Public Library Foundation had been expected to raise $50 million in private contributions; however, the December 1 San Diego Union-Tribune reported that only $3 million has been pledged thus far. Mel Katz, the foundation board member leading the fundraising effort, told the Union-Tribune that the philanthropic community has declined to make firm commitments until construction costs are known. Katz said he has been extracting verbal promises from local philanthropists but wouldn’t specify with whom he has met or how much they might donate. The controversial library had been a major goal of former Mayor Dick Murphy, who resigned in July. His successor, Mayor-Elect Jerry Sanders, supports the project but opposes the use of general-fund money to build it, spokesman Fred Sainz told the Unions-Tribune. Posted December 5, 2005. |
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